| Subsea
7 - News - September 14, 2004
Technip and Subsea 7 Sign
a Memorandum of Understanding to Form a Permanent
Joint Venture
Technip and Subsea 7 announce they have today
signed a Memorandum of Understanding whereby their
respective affiliates Technip Oceania Pty Ltd
and Subsea 7 Singapore Pte Ltd express their intention
to form a jointly operated company for subsea
offshore activities in the Asia Pacific region
(excluding India and Middle-East).
Under the terms of the Memorandum of Understanding,
Technip and Subsea 7 will bid for and carry out
all EPCIM (engineering, procurement, construction,
installation, commissioning and/or maintenance)
contracts for the subsea production and transportation
of oil and gas within the Asia Pacific region,
including the supply of flexible pipe via the
Technip/Subsea 7 joint venture.
The head office of this newly formed company
will be located in Perth, Western Australia.
Technip and Subsea 7 have demonstrated their
capacity to work successfully together on past
projects in the region including the Trunkline
System Expansion Project for Woodside Energy Limited
and are currently executing the Kikeh Subsea EPCI
project awarded by Murphy Sabah Oil Company Ltd.
The combination of the capabilities of Technip
and Subsea 7 in the region will enable the newly
formed joint venture to better serve its clients,
especially for their larger and more demanding
projects. The joint venture shall have exclusive
and operational control of two vessels : the Technip’s
CSO Venturer and the Subsea 7’s Rockwater
2, which will remain in the region to perform
and support the EPCIM projects in the Asia Pacific
region.
The definitive agreements will be subject to
clearances of all relevant regulatory authorities.
Notes to Editors:
About Technip:
With a workforce of about 20,000 people, Technip
ranks among the top five corporations in the field
of oil, gas and petrochemical engineering, construction
and services. Headquartered in Paris, the Group
is listed in New York and Paris. The Group’s
main engineering and business centers are located
in France, Italy, Germany, the UK, Norway, Finland,
the Netherlands, the USA, Brazil, Abu-Dhabi, China,
India, Malaysia and Australia. In support of its
activities, the Group manufactures flexible pipes
and umbilicals, and builds offshore platforms
in its manufacturing plants and fabrication yards
in France, Brazil, the UK, the USA, Finland and
Angola, and has a fleet of specialized vessels
for pipeline installation and subsea construction.
About Subsea 7:
With a workforce in excess of 3000 people worldwide,
Subsea 7 is one of the world’s leading subsea
engineering and construction contractors. The
company’s global offshore operations are
supported out of Asia Pacific, Brazil, Gulf of
Mexico, Norway, UK and West Africa. Subsea 7 has
more than 100 remotely operated vehicles (ROVs),
five pipeline construction yards and a fleet of
modern, high specification dynamically positioned
ships capable of deepwater reeled and flexible
pipelay, deepwater subsea construction and saturation
diving.
For further information, please contact:
Laurence Bricq
Public Relations
Technip
Tel: + 33 (0) 1 47 78 26 37
E-mail: lbricq@technip.com
Pat Stephen
Public Relations
Subsea 7
Tel: +44 (0) 1224 344508
E-mail: pat.stephen@subsea7.com
Marina Toncelli
Public Relations
Technip
Tel: + 33 (0) 1 47 78 66 69
E-mail: mtoncelli@technip.com
Martin Ridley
VP Asia Pacific
Subsea 7
Tel: + 65 6329 7790
E-mail: martin.ridley@subsea7.com
Investor and Analyst Relations:
G. Christopher Welton
Technip
Tel: + 33 (0) 1 47 78 66 74
E-mail: cwelton@technip.com
Barry Mahon
Chief Financial Officer
Subsea 7
Tel : +44 (0) 1224 344510
E-mail: barry.mahon@subsea7.com
Xavier d’Ouince
Technip
Tel: + 33 (0) 1 47 78 25 75
E-mail: xdouince@technip.com
Technip’s website is accessible at http://www.technip.com
Subsea 7’s website is accessible at www.subsea7.com
Subsea 7’s shares trade on the Oslo Stock
Exchange www.ose.no:
Ticker code SUB
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